 The government of St. Lucia led by Prime Minister Hon. Philip J. Pierre has honored another commitment to St. Lucia. Government pensioners have each received a one-time $500 direct deposit into their accounts from the government. Hon. Pierre and his cabinet are mindful of the impact of inflation which has caused steep increases in the cost of consumer goods. Fixed income households and pensioners in particular are adversely affected by the price hikes which are directly linked to external factors which include the ongoing Russia-Ukraine conflict, inflation and volatility in the international oil market, all beyond the scope of the government's control. Despite the challenges Hon. Pierre has allocated approximately $1.5 million to provide immediate financial relief to government pensioners. Additionally, public servants continue to benefit from a 1% wage and salary increase which took effect in April 2022. The 1% wage and salary increase represents approximately an additional $4.5 million per annum for public servants. A further 2% wage and salary increase is scheduled to take effect in 2023. Hon. Pierre, who is also the minister responsible for social security, is also pleased with the decision taken by the National Insurance Cooperation, NIC, to adjust pensions commensurate with increases in the consumer price index. NIC pensioners will receive a 4.2% increase in monthly pension payments. The increased pension payment will be made in August 2022 and will include a retroactive payment for July of 2022. The increase is projected to cost $4 million per year. Mr. Speaker, I also want to tell you that because of one of the promises that we made is that we have given pensioners a one-off payment of $500 at the end of July, Mr. Speaker, and as I speak, that money is in the bank account. And also, Mr. Speaker, after discussions with the NIC, the NIC has agreed to give all pensioners a 4.5% increase starting from July this year. From the office of the Prime Minister, Rihanna Isidou.